Hyundai bags Aramco contract

Saudi Arabia

SEOUL, October 28, 2016 – South Korean engineering major Hyundai has won a USD 727-million contract to build gas treatment units at Saudi Aramco’s Uthmaniyah gas plant, Hyundai told journalists on Friday.

According to a Reuters report, Hyundai “won the deal after offering discounts,” though an earlier Reuters report from August 16 said Petrofrac was the frontrunner in bidding for this project. Hyundai plans to complete the contract by November 26, 2019.

Uthmaniyah, with a processing capacity of 70.8 mcm (2.5 bcf) per day, is one of the units at Ghawar, the biggest onshore oilfield in the world. The upgrade aims to recover ethane, propane and other natural gas liquids.

Read our latest insights on:

• Saudi Arabia

Previous

GE, Baker Hughes discuss partnerships

Next

Eni posts loss, confirms targets